EQT Corp Files Q2 2024 10-Q
Ticker: EQT · Form: 10-Q · Filed: Jul 24, 2024 · CIK: 33213
| Field | Detail |
|---|---|
| Company | Eqt Corp (EQT) |
| Form Type | 10-Q |
| Filed Date | Jul 24, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, earnings, natural-gas
TL;DR
EQT Q2 10-Q is in. Check financials for nat gas biz.
AI Summary
EQT Corp filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year, detailing revenues and operational metrics related to natural gas production and sales. Specific figures for production volumes and financial performance are included within the filing.
Why It Matters
This filing provides investors and analysts with the latest financial and operational data for EQT Corp, crucial for understanding the company's performance in the natural gas market.
Risk Assessment
Risk Level: medium — As a publicly traded energy company, EQT Corp is subject to market volatility, regulatory changes, and operational risks inherent in the oil and gas industry.
Key Numbers
- 20240630 — Period End Date (The 10-Q covers financial results up to this date.)
- 20240724 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- EQT Corp (company) — Filer of the 10-Q
- 20240630 (date) — Period of report for the 10-Q
- 20240724 (date) — Filing date of the 10-Q
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the filing covers the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
The filing date (FILED AS OF DATE) is 20240724.
What is EQT Corp's Standard Industrial Classification (SIC) code?
EQT Corp's SIC code is 1311, which corresponds to CRUDE PETROLEUM & NATURAL GAS.
What is EQT Corp's primary business segment as indicated by the filing?
The filing indicates EQT Corp operates within the us-gaap:OilAndGasMember and us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember segments.
What is the company's fiscal year end?
EQT Corp's fiscal year ends on 1231.
Filing Stats: 4,528 words · 18 min read · ~15 pages · Grade level 17.7 · Accepted 2024-07-24 16:16:08
Filing Documents
- eqt-20240630.htm (10-Q) — 1242KB
- ex1001c6302024.htm (EX-10.01(C)) — 79KB
- ex1001d6302024.htm (EX-10.01(D)) — 30KB
- ex1001e6302024.htm (EX-10.01(E)) — 76KB
- ex31016302024.htm (EX-31.01) — 12KB
- ex31026302024.htm (EX-31.02) — 12KB
- ex326302024.htm (EX-32) — 8KB
- exhibit1003bimage.jpg (GRAPHIC) — 28KB
- exhibit1003bimage1.jpg (GRAPHIC) — 28KB
- exhibit1003bimage2.jpg (GRAPHIC) — 28KB
- 0000033213-24-000032.txt ( ) — 6393KB
- eqt-20240630.xsd (EX-101.SCH) — 37KB
- eqt-20240630_cal.xml (EX-101.CAL) — 67KB
- eqt-20240630_def.xml (EX-101.DEF) — 234KB
- eqt-20240630_lab.xml (EX-101.LAB) — 570KB
- eqt-20240630_pre.xml (EX-101.PRE) — 398KB
- eqt-20240630_htm.xml (XML) — 658KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 4 Condensed Consolidated Balance Sheets 5 6 7 Notes to the Condensed Consolidated Financial Statements 9 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.
Controls and Procedures
Controls and Procedures 39
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 5. Other Information 40 Item 6. Exhibits 41
Signatures
Signatures 43 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements EQT CORPORATION AND SUBSIDIARIES Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (Thousands, except per share amounts) Operating revenues: Sales of natural gas, natural gas liquids and oil $ 889,517 $ 848,325 $ 2,193,422 $ 2,678,683 Gain on derivatives 61,333 164,386 167,844 989,238 Net marketing services and other 1,662 6,040 3,514 11,901 Total operating revenues 952,512 1,018,751 2,364,780 3,679,822 Operating expenses: Transportation and processing 543,067 523,162 1,088,248 1,038,146 Production 102,187 55,038 204,506 102,978 Exploration 1,378 1,203 2,294 2,155 Selling, general and administrative 67,207 60,163 140,260 112,057 Depreciation and depletion 465,982 395,684 952,732 783,369 (Gain) loss on sale/exchange of long-lived assets ( 320,129 ) ( 225 ) ( 319,982 ) 16,303 Impairment and expiration of leases 37,659 5,325 46,868 15,871 Other operating expenses 52,190 13,394 64,163 33,056 Total operating expenses 949,541 1,053,744 2,179,089 2,103,935 Operating income (loss) 2,971 ( 34,993 ) 185,691 1,575,887 Income from investments ( 172 ) ( 1,092 ) ( 2,432 ) ( 5,856 ) Other income ( 19,431 ) ( 562 ) ( 19,636 ) ( 737 ) Loss (gain) on debt extinguishment 1,837 5,462 5,286 ( 1,144 ) Interest expense, net 55,720 39,883 110,091 86,429 (Loss) income before income taxes ( 34,983 ) ( 78,684 ) 92,382 1,497,195 Income tax (benefit) expense ( 44,222 ) ( 11,818 ) ( 19,920 ) 344,828 Net income (loss) 9,239 ( 66,866 ) 112,302 1,152,367 Less: Net (loss) income attributable to noncontrolling interests ( 278 ) ( 240 ) ( 703 ) 445 Net income (loss) attributable to EQT Corporation $ 9,517 $ ( 66,626 ) $ 113,005 $ 1,151,922 Income (loss) per share of common stock attributable to EQT Corporation: Basic: Weighted average common stock outstanding 441,968 361,982 440,714 361,721 Net income (loss) attributable to EQT Corporation $ 0.02 $ ( 0.